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with the locals to turn off electricity to clear the trees out of the streets and first get everything running again. if they don't have electricity they're not going to get the gasoline. people are running their houses on generators and the generators will run out of fuel soon. i was talking to one guy he was talking about siphoning gas out of his car and happy he refilled it before the weekend so he could run the generator to keep his house going. it's a big mess. >> gordon you're here from the nyse, talking about more travel restrictions in and out of new york. how is that going to impact trading volume and liquidity for the rest of the week in your view? >> it may have impact. if people are going to trade, they're going to trade, and if they're not, they're not. the first day of a new month automatically means less volume than today. you saw the people marking their positions. yeah i think traveling will be difficult but it will start to pick up november 1st or 2nd we'll be light days for us anyway. >> bob you've been tracking some stocks on the move. what have you been looking at closely,
the middle class. >> how about state and local income taxes? that's another run right there. there are so many, jared. it's just simpson/bowles. why didn't your president -- why didn't he take up the simpson/bowles and run with it? >> this is an important point, jared. jared, let's focus on this, what arthur is saying. everybody in town, everybody in washington has a romney-like tax reform plan, whether it's the brookings tax policy center, they have one. >> he has a 28% -- >> you have simpson/bowles, and now you have the romney plan. your man's the only guy who thinks tax reform means higher tax rates. you're the only one. >> can i please respond here? >> i want you to. >> in every single budget he has produced, there has been a cap on itemized deductions for people above $250,000. they can only deduct the 28%, not 35% or 39%. and it raises half a trillion dollars over ten years. it's in every one of his budgets. please don't tell me it's not. i can show you where it is. >> arthur laffer, explain this to me. >> the key here is lowering rates. jared, i do agree with you, we need to raise
to this storm response we've seen by state and local communities and business? >> our hearts go out to all of you on the east coast. we sincerely hope you get through this safely. we all have had storms and we've gone through this before. i think one of the advantages of a storm is that we do get a warning. in this case we've had days of warning. it allows us to prepare for a serious event like this. and perhaps even more importantly, it allows us to be ready to handle the aftereffects of such a devastation. >> say -- >> compared to an earthquake or terrorism, which you don't get any warning for. so, it does help to us handle this. >> what about the fact that the markets have been closed, i mean, the markets closed today, closed tomorrow. two days of trading interrupted. we haven't seen this, obviously, since september 11th. and before that, the only time the markets were closed due to weather was 1888. so, what would you expect once trading resumes? >> well, i think there will be volatility. i think the greatest risk is, remember, the markets have been questioning our economic growth here
is now an island. there is also now the concern that conedison the local utility has raise that had they may have to do preemptive power outages, if it looks like some of the low-lying areas are going to flood to protect the underground equipment. they would do power outages, so so much for the utility of having utilities and elect call wires under a ground. that can be an issue as well when storm surges rise. we'll be back with more as our special coverage goes on. guys, back to you. >> thank you so much, scott. that's why we have so many issues with the exchange. that's the neighborhood where the new york stock exchange is. back to the dramatic picture in midtown manhattan, a construction hanging from a skyscraper. robert frank is live in new york city with more on that. robert? >> reporter: thanks, guys. well, i'm standing on 57th and 8th, just a couple of blocks from where this crane is hanging like a giant sword over midtown manhattan. here's what we know so far. at approximately 2:45 today the boom of that crane was blown over the cab, over the top and is now hanging over the
quickly. >> the struggle for power has been interesting to watch from some of the local newspapers, because there have been reports that tao has been keen to hold on to some of the power after he departs the top job. some of those generals have also not been successful so far in this lead-up to the change. do you think he will actually attempt to keep his finger on the pulse once he departs? >> the key question is whether he maintains position as the chairman of the military affairs commission. it gives him some leverage. but he lost a key battle just a little while ago, as your audience may know, there was a young man whose car crashed in beijing. he was half naked with two other almost naked women in his car, turns out he was the son of a key ally of tao, who was expected to run the central economy's general office, and that general office has always been a position of great authority, and now a person has been able to move in and take that over. so that could make it much more difficult for tao to affect the issues that people discuss. >> appreciate the time. thank you so much f
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of commerce. ghuf chris christie ordering the vak ace of some 40,000 residents and all local businesses including the 12 flagship casinos. some stubborn locals want to stick it out, but for those, an emergency spokesperson said talk to someone who tried to ride out the storm of 1962 and see if they would do it again. and that storm wasn't even a hurricane. it was nor'easter. and hurricanes actually making direct landfall on the coast of new jersey a very rare occurrence. it's actually only happened three times ever. two unnamed hurricanes in 1978 and 1903 and hurricane irene making landfall as a tropical storm in aufg gust of 2011. when we talk to local business owners, they said the hit from irene was closing down business right ahead of labor day. this time the damages will be much worse. >> business interruption is a huge thing. irene was well over a million dollars because it was labor day weekend evacuation. this is mid week in a softer part of our season, but it will still probably be over a quarter of a million dollars to our properties. we're focusing on just protecting the prop
. the rivers now meet the ocean. it's going to change local tide tables and navigational charts. we're just getting our arms around it. we were among the first few on a beach today looking at houses that are gone. neighbors that are gone. gas lines are open. it's a terribly scary atmosphere. they don't have their arms around it yet. but that's what we've been talking about during our coverage of this storm. >> brian, i grew up as a kid in deal, new jersey, right on the water towards the west end. it was right off ocean avenue. is this storm just taking that all out, going all the way up north and west? is that what's happened too? >> you know, i know it very well. long branch got hit very hard. the boardwalk there. spring lake got hit very hard. i haven't heard about deale. president garfield died if a house this close to the beach overlooking the water. but all of these communities are in the same spot. it mattered your prok sim t eed the hotel. saw i house today on market valued at $15 million torn to shreds and now it will be sold for a plot of property on the beach. >> did we learn enou
the states and localities for that. but certainly the deficit's getting out of control and i think people are worried about their future generations being strapped with that. surely governor romney's been in ohio probably just as much as the president. they're hitting us quite a bit. people had a chance to listen what he had to say and trust in it. >> mayor coleman, you're mayor of columbus, ohio. the biggest city. how is the economy? it's coming down in this election to not only the future for other generations but also the economic picture in specific areas of the country. how is the economy in columbus right now? >> the economy in columbus is vastly improving. in fact, we're leading the way for the rest of the state. our unemployment rate is 5.7%. still, we have much more to go. we're the lowest unemployment rate in the entire state. frankly, it is the work of the locality, it is the work of our work here in the city of columbus, working with the business community to help turn our economy around and i think the auto saving, the auto bailout helped out the entire state but also helped
on the local area. also lake erie had been continuing to get water over the interstate because of that. so the high wind warnings plus the snow we've had now, 18 inches in davis, west virginia and more to keep on falling. >>> let's talk about the new york stock exchange trading floor did survive the night. there was no flooding or damage. but a lot more going on and we want to talk to bertha coombs who joins us with more on what's ahead for the markets. >> yeah, last night the nyse take to go twitter to dismedical rumors that the floor was under water. you can see it is dry here. plenty of sand bags. later on this morning, the nyse, the nasdaq and exchanges will all try their contingency systems. the ncht yse will do that test between 8:00 a.m. and noon. they will do it open at 9:30 and then a closing at 12:00. they do expect and hope to be open tomorrow. but what you have to look at is the rest of the infrastructure here in lower manhattan. last night, we had a substation blow on east 14th street in the lower part of manhattan and that set off a major power outage, all of manhattan below
've seen in florida. i've seen some weird things from some pollsters. i saw one of the local polls by one of the papers down there. >> "the herald times." >> was that an outlier, seven points, eight points for romney? >> that was seven points up for romney. this election is going to be just like 2010, all about jobs. whoever the floridians believe is going to get the economy going that's who they're voting for. that's how i won. i think romney right now, as you could see in the debate. >> is he leading in florida? >> yes. >> by? >> i'd be shocked if it's -- >> less than seven but more than one. >> it's going to be just like my race. people, they either want a job or they want to get it, they need a job or want to keep their job. look, we've done really well, the biggest drop in unemployment, consumer confidence up five-year high, unemployment has dropped, the number of people in unemployment dropped 40%, tourism is up, 90 million people come in tourism, exports are up, home prices are up, construction is up, so we're headed in the right direction but it's still about jobs. >> isn't that a
manhattan. thank you very much. coming up, local power companies across the united states are sending their crews out east to help restore power to the millions of people who are still without it. we'll look at the recovery efforts with the chairman, president and ceo of southern company next on cnbc. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. >>> welcome back. let's get more on this historic day of trading. steve, thanks for joining us. >> a wait and see approach trying to make it as normal a day as unusual a day as possible. we're hoping for a calm, collective opening. i think we got that. volumes are lighter than we normally would see. i think people are starting to see th
control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to independent tdd#: 1-800-345-2550 firms like ned davis research tdd#: 1-800-345-2550 and economist intelligence unit. tdd#: 1-800-345-2550 plus, i can talk to their global specialists 24/7. tdd#: 1-800-345-2550 and trade in my global account commission-free tdd#: 1-800-345-2550 through march 2013. tdd#: 1-800-345-2550 best part... no jet lag. tdd#: 1-800-345-2550 call 1-800-790-3801 tdd#: 1-800-345-2550 and a global specialist tdd#: 1-800-345-2550 will help you get started today. >>> we continue it monitor the movements of hurricane sandy. david, good morning. good to have you. >> good to be with you this morning. >> obviously we know this is a time to get eyeballs and there's a couple diffe
surprised yesterday to learn that mitt romney was talking about tax policy to a local denver, colorado station where he essentially unveiled a new program with more details. he said his 20% tax cut would only allow $17,000 worth of deductions. if you have $17,000 bucket of deductions, that's all you're going to get and by the by it may even be a small are bucket for upper income people who are going to get a big tax cut. now, let me ask you, why then? why yesterday? why this local denver station? why didn't you all come out and first of all tell me first and, second of all, why didn't you tell the rest of the world you were finally putting meat on the bones of the tax reform plan? i don't get it. >> look, let me set you state on this. first of all, governor romney has a very bold tax plan that's designed to achieve more economic growth and lower the burden on middle-class taxpayers. as part of lowering those rates across the board, he believes we have to broaden the base. he talked about this as an illustrative example of some of the discussions that we're going to have. you obviously
." emily? >> i think ikea was wrong to apologize. they made a business decision. their local affiliate said it's offensive here to have a woman in your catalog in pajamas. they took her out. it's a smart business decision. they haven't pulled out their catal catalogs. i don't know why ikea has apologized except they've gotten whaled by these politicians. >> what's wrong with a company making a decision based upon local culture? is it really a human rights issue at this point? >> i think human rights issues would be overwrought. whose local culture? in saudi arabia you have women advocated for public life. >> there is no law in saudi arabia that women can't be in advertising. it's just a matter of respect for their culture and women are covered up. but, you know, this whole concept that a company has values, you know, i kika is not the united nations.kea is a coms in selling product. if it's better if them to sell book shelves and baskets by cutting out a woman in her pajamas in saudi arabia, good for them. >> think also customers are making decisions based on what they see as the value. >>
. on the other hand, there is a weak local economies and the weather so they're down already. it is more about lost revenue than costs. >> how do they recoup the costs? do they go to the state regulatory commissions and ask for rate increases? how could they get that money back? >> in many cases, they do have riders and they have preestablished recovery of their storm costs. in our cases they are allowed to defer costs above a certain level on their balance sheet, and then during upcoming rate cases they will be able to recoup it. we have seen it happen after the hurricane irene. the question is what kind of a backlash utilities will face to their storm restoration efforts. they're trying their best but it will take many days before the power service is restored. and that usually triggers a lot of regulatory scrutiny and that is not good news for utilities. >> as you look at the president's helicopter fleet there touring atlantic city, are any single companies of those you follow here more at risk to really devastating hits on their balance sheets or not? can you handicap it in any way for us?
requires local talent. that is the way you can grow because you cannot go into germany and not have germans to it. so you are specific direction requires us to increase our presence in the local market. so this last quarter we've included people on site so we can recruit on site and integrate local communities to increase our abilities on site. so for that includes in the local markets is very much in line with our direction. >> and you mentioned wage costs. we're running 6% in india. so is it your expectation that wage costs will keep running at the current rate in terms of the pace of which they're going up or will it be pressure for them to go even higher? >> unemployment 3.5%, so there is still demand for people in the industry. and the compensation actually -- s the demand for people continues, there will be pressure on the compensation. >> all right. thank you so much for joining us, ceo and md of infosys joining us first here on cnbc. >>> and coming up after the break, we'll talk about japan's soft bank. it is in advanced talks to buy majority stake in sprint nextel. then don't miss
debate. every single poll shows he's picked up 5, 6, 7 points. some of these local battleground states picked up 8, 9 points. is does that change your stock market outlook from bear to bull? >> you get rid of obama care and 3.8% tax on investment income and get the tax on medical device makers, larry. >> i will bet you $20 right now. i'll make a romney $10,000 bet that obama care is not repealed. >> i'll bet you it will be repealed, but i'll buy a gift for your new daughter. >> thank you. >> if romney wins, which was not expected a week ago but is now more expected, if he wins what is the stock market impact? is it greater than earnings and the federal reserve? how do you assess a romney victory? >> what becomes important is the effect on capital gains and dividend taxes. we as investors view asset investments on an after-tax basis. they make those particular investments more attractive, and we saw this with respect to to t cool stocks. >> the average small business has 2.5 employees, the average is over 5. small businesses get a boom in that. >> i don't disagree with what you're sayin
about how it extends throughout the ecosystem to provide all of the local -- all of the local communications and telecom that has to go in. all of the proliferation of mobility twices creates more demabds for infrastructure, good on both sides of the business. >> if that's the case, and it's a secular growth story, in 2013, you said this isn't going to be a total washout. 7 1/2 times earnings, we will buy what market wants to sell us? >> yeah, jim. we haven't made a call in 2013. as you referenced, we came out with what we thought was more muted outlook for the december quarter. lower than the normal guidance, but apparently some people were presently surprised. i tell you, we have on our buyback, total authorization of 7.50, through the end of the september quarter, 456 million, since october 1st, another $60 million, and an active participant. at these levels as we do our own valuation, on an intrinsic valuation basis, we're a good investment, and capital, new a m&a, we'll take the opportunity to do so, and we're active with the program. >> very right when you come into bu
plans or local law. any equity awards not accelerated upon termination. one benefit we're told of this timing, every's surprised that this came out the day after such a sole lid quarter. and especially when you could have waited until the end of the year. p but one theory behind this is citi will have to go through the stress tests again at the beginning of next year. if you come in january 2013, you're a fresh face on that field and hard to put togetherc. >> a banking source i spoke to said perhaps the board was waiting for its first glimpse of d day white. then giving the kind of cover that it needed to make the move. then giving the kind of cover that it needed to make the move. obviously citi and government have worked out some prices. sue, down to you. >> let's talk more about what's going on at citi and where the bank goes from here lacking forward with me now. first of all, your reaction. i think i heard some of maria's reporting. do you buy the fact that it has been planned for some time? >> there was obviously unhappiness here, but the fact that this suddenly comes out
, and local police departments across the country see a connection in separate cases of cash-advance schemes nationwide. >> what seemed to be the pattern in all of those cases was that runners and handlers were being sent out to the far-flung areas of the country, and money was coming back to california. >> narrator: in august 2007, indianapolis police arrest a crew hitting banks in indiana. according to court documents, one of the fraudsters has gone into banks, posing as an out-of-town comedian who's been robbed and needs a cash advance. in montana, investigators are catching up with kevin dixon and patience isaacs, as well. >> so, the bank up here on the left that we're approaching is first security bank. so, this bank over here is sky federal credit union. this is called rocky mountain bank. if you notice the banks that they picked out in bozeman, numerous banks were local banks versus the larger chain banks. >> narrator: andy knight is a detective in the bozeman police department. >> i got word from one of the banks that they had had a suspicious transaction come through. it was a large
'm looking right at the sheet. government -- federal, state and local was only up 10,000. look, i know obama is going to crow about it. any president would crow about he needed some good news after getting walloped and having his clock cleaned at the debate. but my other point, jack -- >> larry, wait a minute, let me make one point. i've been reviewing businesses all week, 14 of them, okay, and not one of them is showing stronger growth in the third quarter than they did in the second. some are equal to the second, some are a little worse than the second. the economy was revised down in the second. it's implausible that you could be running at a 5% gdp growth rate, which is what these numbers are implying. >> the nonfarm payroll number was lousy. you're right about that. the nonfarm payroll and private sector numbers, 114,000 and 104,000 were lousy so i agree with that point. i want to challenge you on one other point, okay? the isms for manufacturing and services both outperformed. now they're walking back to the mid 50s. that shows better growth. maybe even 3% growth. car sales at 15 milli
rather than direct in to the local market? >> this is the most fascinating thing to me in the word rigld r now. you have this main market continuing to underperform. and many reasons why it's the case. one of which is the chinese authorities aren't motivated by the same things as the rest of us and trying to achieve this change in their growth. so i think you have to have a number of things, but in addition, it's probably now going to get trickier. because if we're going to a more quality china and less quantity, then some of the big global winners of the pastal winners. and it is conceivable that some of the luxury winners won't be quite as prominent. the call of my sort of thesis, i'll call it luxury light. you got to be investing in the things where the consumption of which chinese earn as opposed to production or let's just say weird ways of obtaining the wealth. because there is an effort to try and -- it's not quite so fashionable to be the extraordinary amount of gifting that's been going on. so i think it's a really good time to be a true stock picker in this regard. this is wher
pop up, especially local media over the last couple of weeks. let me just focus in on "the wall street journal" story and the ft story, which have a similar story. basically, the two stories say the same. they say that ubs, as you mentioned, would embark on a new round of massive job cuts in the investment banking unit, which is still pressured by cost and by falling profitability and falling revenues, and these job cuts could be announced when the bank reports numbers next tuesday. "the wall street journal" also says the first round of job cuts could be announced starting today, and that would hit fixed income and equities trading. on top of that, it writes that there could be a reorganization or restructuring of certain units that it wants to get rid of or units it wants the keep. at this point, it didn't say how many jobs in total would be cut. both the ft and "the wall street journal" merely said that it could be in the thousands. so as you see, there's still a lot of speculation. no comment from ubs at this point. so we really have to wait until next tuesday to get more detail on
is sourced locally. no antibiotics in the meats. better corporate culture. in terms of the stock price, no stock price, not the market, you know, maria, nothing moves in a straight line. we increased one of our positions by 50% today in chipotle right on his comments. david's a nice guy. i hope it works out well, but he may lose a lot of money on this call. >> all right. we'll be watching. we're happy you're here to provide the other side. that's what makes a market. damon, see you soon. good to see you. >> you too. >>> up next, he's one of the richest men on the planet from the business he built from nothing. larry ellison sits down with me for an interview you'll only see on this network. we'll talk about oracle and a lot more right here on the "closing bell." up next, the lawyer who headed up compensation for victims of 9/11 and the bp oil spill. now he's been hired by penn state to determine who gets how much in the horrific jerry sandusky scandal. ken feinberg on the delicate business of doling out financial justice to victims. stay with us. [ male announcer ] the freedom and spir
, a local interview. romney drops this bomb that we've all been waiting for. we know he has tax cuts, but we didn't know what deductions he'd eliminate. he tells this local interviewer, not to demean the interviewer in colorado, but the deduction will only be $17,000. if you're in an upper class bracket, it's going to be less than that. i've been blogging and interviewing him for weeks and weeks to tell me and he drops that bomb before this local guy. >> he's getting so pressure to come out with specifics here. >> he's got to give specifics on loopholes and spending. but president obama has to give specifics too. we don't know where he's going in a second term. because he's never said. >> exactly. and he's not getting the pressure the way romney is. larry, we'll talk to you during the show. you're going to be here watching this debate and analyzing it. joining us now is ron paul. representative paul is a staunch critic of the fed. certainly fed jim bernanke and a big hawk about our deficit. good to have you on the program. >> thank you, maria. good to be with you. >> what are you expecting?
by hiring people, that's probably a better argument. >> it was state and local -- >> that's why it's hard to argue. >> as jack said, question mark, question mark, question mark. >> these numbers have probably been massaged not just for the last two months. the way that the participation rate has slowly come down. i mean, there's a lot of different ways. >> i think it's a fair question to ask. the unemployment numbers have been wrong all along. >> but there's a difference between the number being wrong all the time, which is probably relatively likely. all you're really doing is looking at a trend line. >> there's got to be a margin of error. >> you're shocked that the government could be using it, or the party in power could be using it. >> i think that austin goolsbee was wrong, and in this case, to the extent that we're arguing manipulation, i think it's a hard argument to make. >> we know china cooks all the books and we know chavez didn't win. >> that's because you told me the bls guys went down there to count the votes. >> i did tell you that. what do they call when jimmy carter goes
dollar limit, for example, on charitable deductions and health care deductions and state and local tax deductions, and if you put a dollar limit on that, grover, you make a bloody fortune at the upper end, so their tax rates at the margin would come down but their deductions would be lost. that would balance it in a revenue neutral way, and i'm going to throw in economic growth, grover. that will get to you 4% xhieconc growth which throws off -- >> we've been there, larry. >> the economic growth is the most important part. what we have with obama, if obama had had the kind of growth that reagan did from the bottom of the recession, there would be 10 million more americans at work. >> it's a very different recession. >> 10 million americans not working because obama spent money and raised taxes rather than -- >> a very different recession. the collapse of the housing bubble. >> dean, i don't want to go through the housing bubble. >> i don't want to either, but we did. >> the housing bubble is not going to come up for debate. i'm stick together debate tonight, and joe biden has been out
of the local economies we serve. yes, we got to charge. yes, we have to make a profit. the interest rates are at the lowest possible historical levels right now. so we are servicing. we're helping our consumers. do we have cost? of course we do. >> i don't understand why this is such a mystery. all of the u.s. and all the european banks are still trying to rebuild their capital. until they do that, the lending standards aren't going get easier. it's not that -- >> and they're deleveraging at the same time. >> exactly. the regulators go in and say, you can't make this loan, you can't make that loan. this is the way it is until we get through this tough period. >> and the way they're getting through this, as we all know, the fee base. tim sloan was just here, the ceo of wells fargo. they have this diversified portfolio. yes, they're doing well in the mortgage business, but they're doing better on the fee side of the ledger because that's where they can make their money. >> michelle -- >> get an adjustable, bob and absorb the interest rate risk yourself and you can have a 2% loan. >> that's
's president and ceo. take a tour of their local steel plant. mr. griffin, welcome to "mad money." have a seat, jim. >> thank you, jim. >> thank you so much. we had kind of a strange thing today, a bit of a fiasco. we've got all this new tech that everybody's excited about, the internet. and we've got a company that we all thought was doing pretty well. maybe not doing so well. maybe a slowdown. we also had a fiasco where a release was -- because of technology run amok -- done midday. it was terrible. but there's another kind of technology. it's the kind of technology you've exposed me here today to, timken. could you talk about the technology that is not the personal computer and is not the internet but is something that's putting people to work and you're having great success with? >> jim, timken's a technology company. as you said, we're 100 years old. we were founded by a guy who invented the tapered bearing. for 100 years that's basically all we made. in the last decade we've transformed ourselves and the transformation started when we recognized it's what we know, not what we sell that's
closed at a 52-week high in the hang seng. this hasn't been a great year for china. the local market, the shanghai market, where only locals, chinese nationals can buy into, had a terrible year. it's now off since the beginning of september is up almost 6%. that's when they started talking about stimulus and the bottom. i don't know. it is a close call right now. i agree. there are some people obviously betting that we're at a trough in china. >> absolutely, bob. thank you. >>> to the nadz now. seema mody is following the big movers over there. >> we got to watch the levels on apple. that's what's moving the nasdaq right now. the stock back in the green, up .3%. other big movers we're watching -- netflix. several sale side analysts cutting their price target on the stock citing weak subscriber growth, disappointing earnings. the stock hitting a three-month low. but there are bright spots. biotech and pharma. better than expected earnings or regen. >>> america's business leaders pushing for a resolution on the fiscal cliff. leading the charge today, general electric chairman and ceo
in local loans throughout country. >> there is margin to be had in go organics. >> reporter: michael dell's brother adam was also attending. it felt like a tech start of pc things but with farming you need a little bit of a longer view. >> indeed you do. >>> sew ma mseema mody joins us. >> biogen, an eps of $1.91. it now expects the 2012 earnings ever $6.40 to $6.50 a share. stock up better than 2%. >>> speaking of earnings, nearly half of the s&p 500 companies have reported their earnings. we're analyzing the numbers on fulty group, procter & gamble and hershey next. >>> today's some of the most actives. mixed bag. sprint, b of a and facebook are lower on the session. pss world medical though is up 32%! zynga's up almost 12.5%. back in a moment. [ horn honks ] hey, it's sandra -- from accounting. peter. i can see that you're busy... but you were gonna help us crunch the numbers for accounts receivable today. i mean i know that this is important. well, both are important. let's be clear. they are but this is important too. [ man ] the receivables. [ male announcer ] michelin knows it's be
been made. here in washington, locally, the worst passed us by, a flooded potomac river it is still in its banks. that means the worst is over here. back to you guys. >> thank you vet. super storm sandy slamming the east coast. we will talk about the impact on the gross domestic product and the retailer. >>> this video just came in of atlantic city new jersey. sections of the famous boardwalk washed away, turned into stick and stones. >>> whether the. even the initial estimates for damage hurricane sandy are staggering they bound to go higher. what will sandy's long-term impact be? joining us once again is paul walsh, vice president of weather analytics for the weather channel. what -- you have what he a chance to crunch some of these numbers. yesterday, we talked about retail. >> yep. >> today, you are taking a broader look what are you coming up with in terms of the impact? >> so i have been talking to some economists out there and sort of getting their senses, early days, of course, but chatted with mark zandi yesterday. they are estimating that binds the location where the storm
. >> let us help you that helps you be local then rather than state or federal right? >> that's right. most of the on obstacles are local. >> feed the gazelles but not with cheap capital government subsidies that causes those growth companies to take their eye off the ball. >> giving cheap money away is not good government policy. what you ought to do is guard and the companies, the growth companies in your area and help them grow. >> and finally, one thought on job training, where you think in ink magazine, federal government and state government has gone wrong is by aiming job training efforts at really entry level position. you think it ought to be higher up the food chain? >> a lot of job training is turning unemployable people into barely employable people. what holds growth people up is take the entry level people and line works and turning them into supervisors. when do you that you can expand more easily. where government can come in and help. >> eric, thanks very much, great article in the issue who really create the jobs. sue? >> ty, thank you. fascinating conversation. on the oth
doing or the loc localization of our capacity in the markets in china are really helping us to capitalize on what has been a solid trend here in north america. >> one of the big weaknesses in due pot was a whitener which has been responsible for 60% of the growth in the last two quarters. you are a buyer of titanium dioxide. i presume that dupont's woes could be good for your company. and still, year over year in the third quarter here in 2012, the prices for tio 2 in north america are higher that be they were a year ago. that trend has changed during 2012 we have seen some declines, prices are still higher than they were last year, but we are getting moderation in this chemical commodity that is an in perform component in our formulations and we think this would be a help for us going forward as we no longer have to engage in these aggressive measures to reduce the impact of this inflation in our raw material cost picture. >> one last question, when you are doing the deal with georgia gulf, people can tender their ppg stock. if you are a holder of ppg, would you tender? >>
to invest in acompany that would let you get some sleep at night. which is what i had at the local doubletree. >> thank you for taking my call. it is an honor to speak with you. this fly fishing instructor from the university of tennessee wants to know, what is up with fo ford? >> it is a rocket flying too low in europe. where they were six years ago they decided to reinvent the company and close a lot of factories i think they will. but because of europe the stock has been a disappointment. devan in ohio. >> booyah, jim. i was wondering about disney. >> i like that deal. i think bob did it again. they own star wars. what a franchise. people laughed when it happened. not how people laughed -- whatever. believe me, it is not going to be like laugh in. if that stock opens down as all tomorrow. buy disney. let's go to brett in texas. >> hello, thank you for taking my call. i want to send you a baylor bears booyah. >> fair enough. >> i'm a graduate student looking to get a little growth in my portfolio as i near graduati graduation. i'm looking for companies that have pulled back with
of the motion. and it is on the right-hand side of motion. we got hit hard in the local metro area. it has been tough. >> todd gross thank you very much. >> it is going to have an impact. >> it will. if you are not a motivated voter. then you don't turn out. >> markets tomorrow open. it might be very, very interesting. stay tuned for our coverage of it tomorrow. and it will be very interesting. they say the reset that has to happen. coordination of trading floors. bob did a great job of highlighting the unknowns. it is going to be a moment tomorrow morning. here is where the dow closed on friday. i was just going to say it felt so long ago. it was higher by 297 and the s&p 500 closed. will people be raising cash for rebuilding. that is all to be answered tomorrow. >> that is going to do it for this special report. i'm michele. >> be sure to tune in tomorrow for continued coverage. you can also monster the latest. good night. [ lisa ] my name's lisa, and chantix helped me quit. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix
the best organic produce to japan and elsewhere and the hawaiian islands. we will support the local people and help them to start these businesses. we will help electric cars. so it's going to be a little, if you will, laboratory for sustainability in businesses of small scale. >> so what happens now? i mean, you've built this unbelievable company, a hundred-billion-plus, you've got an enormous amount of personal wealth. do you pinch yourself? when you look back at your modest beginning, it is pretty extraordinary? >> it is extraordinary. steve and i used to talk about this a lot. both of us agreed, you know, every once in a while you stop and think about it, but 99.9% of the time you just kind of get on with the miracle of life, just being alive every day and going out and doing your job and enjoying being alive. >> my thanks to larry ellison. up next on "the wall street journal report," why it is never too late to increase your personal financial literacy even if you're edging closer to retirement tips on finances retirement and managing your bottom line. and follow us on twitter and and
never want to make it too local of a story. it is affecting so many millions of people but that picture of the entrance to the brooklyn battery tunnel is astounding the amount of water. 14-foot surge. >> rename it, the brooklyn barrier tunnel. it's a terrific road, by the way. >> scott, so much good work overnight. i look forward to working with you in a little while. scott cohn. we'll take you along sandy's path throughout the morning. the hartford will join us to explain the impact. a lot to talk about there. one more look at futures about 30 seconds left to trade. but modest rebound here. positive action on the dow and we'll see if we do, in fact, get some exchanges opening tomorrow. >>> grocery chain kroeger has a number of stores in virginia and wch wf where more than 100,000 people are reportedly without power on the cnbc news line is their chief financial 0 officer. michael, good morning to you. thanks for being with us. >> good morning. thanks for having me. >> we look at this through all sorts of different prisms. what are early takeaways for you? >> well, so far for us we've b
no power over local projects in individual states. ekta has more details. >> it is definitely a positive and it has come in terms of the big line of reforms that we've seen in the past two weeks which had been initiated by the government. national investment board could get cabinet approval this week or could get some amount of approval. the big reason why the national investment board could actually come into play is that currently it would actually fast track infrastructure approval simply because currently there are 19 ministries overall from engineering to defense which actually require to give regulatory approval to any sort of infrastructure project that exists or wants to come into play. so to give it a certain amount of time frame which is more applicable and which is more realistic in terms of infrastructure project is the reason why national investment board could be coming up by the cabinet, but the people are not really seeing it as a fantasy of one because it will take a lot of regulatory approvals to get the national investment board on track and secondly, there could be mo
of what's made for them that's a locally derived or made specifically for me is okay. the evolution in japan took 25 to 30 years. the evolution in korea took about 10 to 15. we expect it will be as fast if not faster in china. why are we creating something? we see a gap in the marketplace. we see an opportunity. we want to be there now so when that consumer begins to turn towards what's made now for me, we're there already and well established. >> we hope you'll come back and keep us updated. >> thank you very much for having me. >>> 4 1/2 months of facebook's ipo, checking in on the state of the social network, more of julia boorstin's exclusive interview with facebook's coo sheryl sandberg. >> there's a lot of interest and speculation out there, oh, my god, has everything blown up? and the answer is no. if you come to facebook for work as you did four months ago, i think we're a stronger company today than we were then. >>> as we head to break, take a look at this morning's early movers on wall street topped off by goldman sachs, up 3.5%. >>> dow up 72 points. microsoft has turned
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